holder

Holder

An individual who has lawfully received possession of aCommercial Paper, such as a check, and who is entitled to payment on such instrument.

A holder is distinguishable from a holder in due course since, in addition to possession of the instrument, the latter takes it for value, in Good Faith, and in the absence of any notice that there is any claim against it or that it is overdue or has been dishonored, which means that payment of it has been refused.

holder

a payee or indorsee in possession ofa bill of exchange or promissory note.

HOLDER. The holder of a bill of exchange is the person who is legally in the
possession of it, either by endorsement or delivery, or both, and entitled
to receive payment either from the drawee or acceptor, and is considered as
an assignee. 4 Dall. 53. And one who endorses a promissory note for
collection, as an agent, will be considered the holder for the purpose of
transmitting notices. 2 Hall, R. 112; 6 How. U. S. 248; 20 John. 372. Vide
Bill of Exchange.

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.